ITANZ shareholders approve fourfold increase in authorized capital to Rs5bn
MG News | August 03, 2026 at 10:44 AM GMT+05:00
August 03, 2026 (MLN): Shareholders of ITANZ Technologies Limited (PSX: ITANZ) have approved an increase in the company's authorized capital from Rs1.2bn, divided into 120 million ordinary shares of Rs10 each, to Rs5bn, divided into 500 million ordinary shares of Rs10 each.
The approval was granted at the Extra-Ordinary General
Meeting (EOGM) held on Friday, July 31, 2026, at the LSE Auditorium,
Basement-2, LSE Plaza, Lahore, and virtually through video conference facility.
As a consequence of the increase, Clause VI of the
Memorandum of Association and Clause 4 of the Articles of Association were
amended to show the authorized capital of Rs5bn, divided into 500 million
ordinary shares of Rs10 each.
The resolution further stated that the ordinary shares,
when issued, shall carry equal voting rights and rank pari passu with the
existing ordinary shares of the company in all respects and matters.
Members also confirmed the minutes of the previous EOGM
held on Saturday, June 27, 2026.
The Chief Executive Officer and/or Chief Financial
Officer and/or Company Secretary were singly authorized to take all steps and
actions ancillary and incidental to the resolutions, including filing of
requisite documents and returns with the relevant regulatory authorities.
The aforementioned information was disseminated through a notification
to Exchange.
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